Equities analysts expect Holly Energy Partners, L.P. (NYSE:HEP) to announce sales of $129.94 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Holly Energy Partners’ earnings, with the lowest sales estimate coming in at $126.30 million and the highest estimate coming in at $132.73 million. Holly Energy Partners reported sales of $125.78 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.3%. The business is scheduled to announce its next earnings report before the market opens on Wednesday, October 30th.
According to Zacks, analysts expect that Holly Energy Partners will report full-year sales of $530.24 million for the current year, with estimates ranging from $526.00 million to $533.54 million. For the next year, analysts expect that the business will report sales of $535.21 million, with estimates ranging from $513.60 million to $549.65 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Holly Energy Partners.
Holly Energy Partners (NYSE:HEP) last released its quarterly earnings data on Wednesday, July 31st. The pipeline company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. Holly Energy Partners had a net margin of 36.16% and a return on equity of 37.40%. The company had revenue of $130.80 million during the quarter, compared to analyst estimates of $128.07 million. During the same quarter in the previous year, the business posted $0.38 EPS. Holly Energy Partners’s revenue for the quarter was up 10.1% compared to the same quarter last year.
In other news, Director Eric L. Mattson sold 2,000 shares of Holly Energy Partners stock in a transaction on Monday, August 5th. The stock was sold at an average price of $27.55, for a total transaction of $55,100.00. Following the sale, the director now directly owns 4,198 shares in the company, valued at approximately $115,654.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in HEP. Invesco Ltd. bought a new stake in Holly Energy Partners in the 2nd quarter valued at about $167,852,000. Morgan Stanley raised its stake in Holly Energy Partners by 74.6% in the 2nd quarter. Morgan Stanley now owns 338,398 shares of the pipeline company’s stock valued at $9,307,000 after acquiring an additional 144,548 shares during the period. Dividend Assets Capital LLC raised its stake in Holly Energy Partners by 360.6% in the 2nd quarter. Dividend Assets Capital LLC now owns 121,171 shares of the pipeline company’s stock valued at $3,332,000 after acquiring an additional 94,861 shares during the period. CIBC Private Wealth Group LLC bought a new stake in Holly Energy Partners in the 3rd quarter valued at about $2,236,000. Finally, First Trust Advisors LP raised its stake in Holly Energy Partners by 42.2% in the 2nd quarter. First Trust Advisors LP now owns 225,975 shares of the pipeline company’s stock valued at $6,214,000 after acquiring an additional 67,071 shares during the period. Institutional investors and hedge funds own 30.85% of the company’s stock.
NYSE HEP traded up $0.01 during mid-day trading on Monday, hitting $23.53. The company’s stock had a trading volume of 444,352 shares, compared to its average volume of 236,840. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.17. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 12.80 and a beta of 0.72. The company’s 50 day simple moving average is $24.68 and its 200 day simple moving average is $26.92. Holly Energy Partners has a twelve month low of $20.81 and a twelve month high of $31.31.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.6725 per share. This represents a $2.69 dividend on an annualized basis and a dividend yield of 11.43%. The ex-dividend date is Friday, October 25th. Holly Energy Partners’s payout ratio is 158.24%.
About Holly Energy Partners
Holly Energy Partners, L.P. owns and operates petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities, and refinery processing units that support the refining and marketing operations of HollyFrontier Corporation in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho, and Washington.
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